| OPEC upgraded its forecast for 2016 oil demand growth on Wednesday, in a report that may dampen hopes for a deal on a production freeze at its meeting next month. In its August report, OPEC forecast demand growth of 1.22 million barrels a day (mb/d) year on year, which was 30,000 barrels higher than forecast in July.
The new forecast would put global oil demand across 2016 at 94.26 mb/d. OPEC, which represents 14 major oil-producing countries, attributed the upgrade to better-than-expected economic performance in advanced European economies and some Asian ones, including India, in the first half of the year...............................................Full Article: Source
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